Affinity Bank ESOP Trust Amends Ownership in Affinity Bancshares

TL;DR

**Affinity Bank's ESOP Trust still holds a big chunk of the company, signaling stability.**

AI Summary

The Affinity Bank Employee Stock Ownership Plan Trust, based in Georgia, filed an amendment (SC 13G/A) on January 25, 2024, updating its beneficial ownership in Affinity Bancshares, Inc. as of December 31, 2023. This filing indicates that the ESOP Trust continues to hold a significant stake in the company, which is important for investors as it shows a stable, long-term institutional holder with an interest aligned with employee welfare, potentially signaling confidence in the company's future.

Why It Matters

This filing confirms that the Affinity Bank Employee Stock Ownership Plan Trust remains a substantial holder, which can provide stability and a long-term perspective to the stock's ownership structure.

Risk Assessment

Risk Level: low — The filing indicates a stable institutional holder, which generally reduces volatility and risk associated with large, sudden ownership changes.

Analyst Insight

Investors should note the continued stable ownership by the ESOP Trust, which suggests internal confidence and a long-term perspective. This could be a positive signal for stability, but further analysis of the company's financials and other market factors is still warranted.

Key Players & Entities

• Affinity Bancshares, Inc. (company) — the subject company of the filing
• Affinity Bank Employee Stock Ownership Plan Trust (company) — the reporting person and beneficial owner
• Georgia (place) — place of organization for the reporting person
• December 31, 2023 (date) — date of event requiring the filing
• January 25, 2024 (date) — date the filing was made
• $0.01 (dollar_amount) — par value per share of Common Stock

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• sc13g-a_2023.htm (SC 13G/A) — 37KB
• 0000943374-24-000016.txt ( ) — 38KB

From the Filing

SC 13G/A 1 sc13g-a_2023.htm AFFINITY BANCSHARES, INC. SCHEDULE 13G (AMENDMENT 2) DECEMBER 31, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2) * Affinity Bancshares, Inc. (Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 00832E 103 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of This Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 5 Pages CUSIP NO. 00832E 103 13G Page 2 of 5 Pages 1 Names of Reporting Persons Affinity Bank Employee Stock Ownership Plan Trust 2 Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3 SEC Use Only 4 Citizenship or Place of Organization Georgia Number of Shares Beneficially Owned by Each Reporting Person With: 5 Sole Voting Power 458,674 6 Shared Voting Power 92,809 7 Sole Dispositive Power 551,483 8 Shared Dispositive Power 0 9 Aggregate Amount Beneficially Owned by Each Reporting Person 551,483 10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11 Percent of Class Represented by Amount in Row 9 8.6% of 6,416,628 shares of Common Stock outstanding as of December 31, 2023. 12 Type of Reporting Person (See Instructions) EP CUSIP NO. 00832E 103 13G Page 3 of 5 Pages Item 1. (a) Name of Issuer Affinity Bancshares, Inc. (b) Address of Issuer's Principal Executive Offices 3175 Highway 278 Covington, Georgia 30014 Item 2. (a) Name of Person Filing Affinity Bank Employee Stock Ownership Plan Trust Trustee: TI-Trust, Inc. (b) Address of Principal Business Office c/o TI-Trust, Inc. 2900 North 23 rd Street Quincy, Illinois 62305 (c) Citizenship or Place of Organization See Page 2, Item 4. (d) Title of Class of Securities Common Stock, par value $0.01 per share (e) CUSIP Number See Page 1. Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F). CUSIP NO. 00832E 103 13G Page 4 of 5 Pages Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: See Page 2, Item 9. (b) Percent of class: See Page 2, Item 11. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: See Page 2, Number 5. (ii) Shared power to vote or to direct the vote: See Page 2, Number 6. (iii) Sole power to dispose or to direct the disposition of: See Page 2, Number 7. (iv) Shared power to dispose or to direct the disposition of: See Page 2, Number 8. Item 5. Not applicable Item 6. Not applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person Not applicable Item 8. Identification and Classification of Members of the Group The reporting person is an employee benefit plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended. Item 9. Notice of Dissolution of Group Not applicable Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. CUSIP NO. 00832E 103 13G Page 5 of 5 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. AFFINITY BANK EMPLOYEE STOCK OWNERSHIP PLAN TRUST Date: January 25, 2024 By: TI-Trust, Inc., Trustee /s/ Craig Baker Name: Craig Baker Title: Vice President

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View this SC 13G/A filing on SEC EDGAR